Refreshing of Barron's 400 index shows a bigger dose of financial stocks. The index and Barron's 400 ETF enjoy a record outperformance, so consider it a vote of confidence for the highflying sector.

A bigger dose of financial stocks? Yes, please. The most notable result of the twice-a-year refreshing of the Barron's 400 index (which took place on Friday) is a new helping of financial stocks. The Barron's 400 and, more recently, the accompanying exchange-traded fund, enjoy a record of outperformance, so consider it a vote of confidence in the highflying financial sector.

This magazine's editors and writers think of the Barron's 400 as a "stockpicker's index." Its methodology aims to find attractively priced...